Textile manufacturer and distributor Centenari & Zinelli has posted a pre-tax loss of EUR400,000 for the third quarter of 2003, according to Italian financial website Borse.

The company, which posted a pre-tax loss of EUR700,000 in the same period last year, also recorded pre-tax earnings of EUR3.8 million for the quarter, up 2.7 per cent from the year prior.

Net financial debt, meanwhile, stood at EUR26.4m at the end of September, down from EUR27.5m at the end of June.

Centenari & Zinelli makes and supplies include yarn, cotton, linen and silk to the men's and women's apparel industry.